Select Mexico Properties

Buying real estate in Mexico hasn’t always been safe. With that in mind, Mexico has revamped its property ownership laws to include significant protections for buyers. These protections are so solid that they’ve spurred a brand-new mortgage lending industry, both here and in the US. Until these new laws went into effect, lenders would not provide capital for the purpose of buying real estate in Mexico. At this point, both US and Mexican lenders are offering mortgages to foreign nationals and citizens alike.

This is an exciting change in the property laws in Mexico, and it couldn’t come at a better time. Millions of people in North America, Europe and Asia are getting ready to retire, and they’re all looking for the ideal retirement spot. In the US alone, more than 78 million people are approaching retirement age. Ten percent of them – 7.8 million people – have said that they will seek out a retirement home that is not in the United States. Many of those who plan to leave will do so because the high cost of retirement inside the US will make retirement difficult or impossible.

Retirees and those planning to retire soon are defeating the high cost of retirement by buying real estate in Mexico, where land values are increasing, the cost of living is low and the quality of life – especially in places like Puerto Vallarta – is high. The cost of health care is a primary concern among retirees. Puerto Vallarta real estate is attractive because Puerto Vallarta offers high quality health and dental care at 50% - 75% of the cost of the same care in the US. In fact, some of the latest medical treatments are available here well before they’re approved for use in the US.

Buying real estate in Mexico is safer than it has ever been. Mexico requires the use of a trust called a fideicomiso to hold title to land purchased within 50 km of a coastline or 100 km of a national border. The fideicomiso offers significant protection for the buyer, and can be used to transfer ownership rights to the property to other parties, including heirs or close friends. In addition, buyers can purchase title insurance on land to further guard their investment against loss.

If you would like more information about the safety of buying real estate in Mexico, a fideicomiso or properties available for sale in the Puerto Vallarta region, please contact a Select Mexico Properties sales representative today!